Silicon Beach

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Silicon Beach is the Westside region of the Los Angeles metropolitan area that is home to more than 500 technology companies, including startups. It is particularly applied to the coastal strip from Los Angeles International Airport north to the Santa Monica Mountains,[1] but the term may be applied loosely or colloquially to most anywhere in the Los Angeles Basin. Startups seeded here include Snapchat[2] and Tinder. Major technology companies that opened offices in the region including Google, Yahoo!, YouTube, BuzzFeed, Facebook, Salesforce, AOL, Electronic Arts, Sony, EdgeCast Networks, MySpace, Amazon.com, Apple, Inc., and Netflix.[3] By some 2012 metrics, the region was the second- or third-most prominent technology hub in the world.[4][5] In the first six months of 2013, 94 new start-ups in Silicon Beach raised over $500 million in funding, and there were nine acquisitions.[6]

The area offers relatively easy access to LAX (Los Angeles International Airport), the biggest and most connected airport in western North America.[7]

As in the San Francisco Bay Area, the influx of technology companies has boosted home and office rents and real estate prices in Playa Vista, Playa Del Rey, Westchester, Santa Monica, and Venice, already high previously due to beachfront location. The effects are also spilling over into Marina del Rey and Hermosa Beach.[8]

Start-up pockets have also emerged in nearby Culver City, West L.A., and El Segundo.[9] Other pockets include Downtown Los Angeles, Beverly Hills, Hollywood, and the San Fernando Valley, which were pricey areas even before the influx.[10][11] The tendency of companies to congregate in these centrally-located, high income areas has raised concerns[12] about the feasibility of racial minorities joining the workforce, as they tend to live in further outlying areas.[13]

Silicon Beach is also home to start-up incubators and accelerators, such as Amplify.LA, Science, Disney Accelerator, and TechStars Cedars Sinai.[14]

Higher education institutions headquartered in Silicon Beach include Loyola Marymount University and Otis College of Art and Design.[15] Other higher education institutions in the nearby Southern California region or with satellite campuses in/nearby Silicon Beach include: Art Center College of Design, California Institute of Technology, University of California Los Angeles, University of Southern California, Occidental College, and the Claremont Colleges.

List of technology companies based in Silicon Beach[edit]

Company Year founded Industry Valuation
Abstract 2020 Govtech
AdColony 2011 Adtech Acquired by Opera for $350 million[16]
Age of Learning 2007 Education
Bitium 2012 Cloud Computing Acquired by Google for an unknown amount[17][18]
Branded Online 2010 Ecommerce & Online Marketing Agency
Cornerstone OnDemand 1992 Cloud
Distillery 2008 Mobile Application Development, UX/UI
Dollar Shave Club 2011 Consumer packaged goods Acquired by Unilever for $1 billion[19]
Eaze 2014 Cannabis
Enplug 2012 Software $2.5 million[20][21]
Fair 2016 Automotive, Fintech
Falcon Computing Solutions 2014 High Performance Computing, FPGA acceleration - tools and solutions
Flexport 2013 Digital Freight Forwarding
FloQast 2013 Accounting Software
Fullscreen 2011 Digital Media
Gnarbox 2014 Consumer electronics
GOAT 2015 e-commerce, Fashion (sneakers)
Guthy-Renker 1988 Direct Response Marketing
Headspace 2010 Health
The Honest Company 2012 e-commerce
Honey 2012 Cashback website, online coupons Acquired by PayPal in 2020 for $4 billion[22][23][24]
Hulu 2007 Television Streaming Services $100 million[25]
LegalZoom 1999 Legal
MatchCraft 1998 Digital Marketing Platform Technology & Services
MuteSix 2014 Performance Marketing Agency
Nasty Gal 2006 Retail Unknown - Chapter 11[26][27]
Oculus VR 2012 Virtual reality Acquired by Facebook, Inc. in 2014 for $2 billion[28]
Onestop Internet 2004 Full Service Ecommerce Agency
Ring 2012 Home Security Devices Acquired by Amazon for $1 billion[29]
Riot Games 2006 Video Games
Science 37 2014 Medical technology
Scopely 2011 Video Games $1.7 billion[30]
Snap Inc. 2011 Social media $23 billion[31]
Swagbucks / Prodege, LLC 2007 Digital Rewards & Cash Back
Tala 2011 Fintech
Thrive Market 2013 e-commerce
TigerText 2010 Messaging, Text Analytics, Communications Infrastructure $625 million[32]
Tinder 2012 Social Media
TrueCar 2005 Automotive websites $1.65 billion[33]
Virgin Hyperloop One 2014 Transportation
Wag 2014 Pets
WebJoint[34] 2014 Cannabis
Whisper 2012 Social media
Wpromote 2001 Digital Marketing Agency
.xyz 2014 Internet Domain Registry
ZestFinance 2009 Fintech
ZipRecruiter 2010 Hiring

Other uses[edit]

References[edit]

  1. ^ Machalinski, Anne (May 22, 2019). "Los Angeles Tech Scene Expands Beyond Silicon Beach". Barrons. Retrieved July 23, 2019.
  2. ^ Hernandez, Daniel (2019-08-23). "Snapchat's Disappearing Act Leaves Venice Beach Searching for Its Future". The New York Times. ISSN 0362-4331. Retrieved 2019-08-24.
  3. ^ https://laedc.org/2019/01/16/quickweb1/
  4. ^ "Startup Genome Ranks The World's Top Startup Ecosystems: Silicon Valley, Tel Aviv & L.A. Lead The Way". TechCrunch. 2012-11-20.
  5. ^ "Silicon Beach emerges as a tech hotbed". USA Today. 2012-07-15.
  6. ^ "Over $500M Raised by 92 LA Startups in the First Half of 2013".
  7. ^ Sharp, Sonja (2019-08-21). "'I'm not even 30, and I'm flying my own jet' — Silicon Beach elites take a seat in the cockpit". Los Angeles Times. Retrieved 2019-08-21.
  8. ^ Logan, Tim (January 2, 2015) "Buoyed by Silicon Beach, Westchester enjoys a housing surge" Los Angeles Times
  9. ^ Khouri, Andrew (January 15, 2016). "Bixby Land's $49-million office building sale a sign 'it's not the old El Segundo'". Los Angeles Times. Retrieved 16 January 2016.
  10. ^ Chang, Andrea (March 7, 2015). "Tech scene takes hold in revitalized downtown L.A." Los Angeles Times.
  11. ^ Ungerleider, Neal (October 31, 2014). "Why A Subway-Building Binge Could Transform L.A.'s Tech Culture". Fast Company. Retrieved 28 December 2015.
  12. ^ "Why Tech Degrees Are Not Putting More Blacks and Hispanics Into Tech Jobs".
  13. ^ Haya El Nasser (April 29, 2015). "Job sprawl hurting minorities and the poor in suburbia". america.aljazeera.com. Retrieved 2019-08-21.
  14. ^ "A list of top LA accelerators and incubators".
  15. ^ Staff (June 2018). "Silicon Beach: The Next Wave". LMU Magazine. Loyola Marymount University. Archived from the original on 2015-08-13.
  16. ^ Gagliordi, Natalie. "Opera Software acquires AdColony for up to $350 million". ZDNet. Retrieved 2019-01-08.
  17. ^ "Bitium - Crunchbase". Crunchbase.
  18. ^ "Google Cloud acquires cloud identity management company Bitium". TechCrunch. Retrieved 2019-01-08.
  19. ^ "Unilever Buys Dollar Shave Club for $1 Billion".
  20. ^ Lawler, Ryan. "Digital Display Startup Enplug Raises $2.5 Million Seed Round". TechCrunch. AOL. Retrieved 21 May 2014.
  21. ^ Smith, Samantha. "LA Startup Goes from 0 to 100mph In Three Months". Forbes. Retrieved 22 May 2014.
  22. ^ "PayPal Completes Acquisition of Honey" (Press release). PR Newswire. January 6, 2020.
  23. ^ Taulli, Tom. "Why PayPal Paid $4 Billion For Honey Science". Forbes. Retrieved 2020-01-28.
  24. ^ Peters, Jay (2019-11-20). "PayPal acquires the company behind the Honey deal-finding extension for $4 billion". The Verge. Retrieved 2020-02-25.
  25. ^ "Hulu - Crunchbase". Crunchbase.
  26. ^ "Nasty Gal Profile on CrunchBase".
  27. ^ "Can Nasty Gal Be Saved?". 26 May 2017.
  28. ^ https://variety.com/2020/dirt/moguls/honeys-billionaire-founder-buys-60-million-bel-air-mega-mansion-1203529940/
  29. ^ Green, Dennis. "Amazon's $1 billion acquisition of the doorbell-camera startup Ring is the company doing what it does best — and it should terrify every other retailer". Business Insider. Retrieved 2019-01-08.
  30. ^ Spangler, Todd. "Scopely Valued at $1.7 Billion After $200 Million Round, With Mobile Game Company's Sights Set on M&A". Variety. Retrieved 2020-05-29.
  31. ^ "SNAP Key Statistics | Snap Inc. Class A Common Stock Stock - Yahoo Finance". finance.yahoo.com. Retrieved 2017-03-20.
  32. ^ "Funderbeam". www.funderbeam.com.
  33. ^ "TrueCar, Inc. Common Stock (TRUE)". NASDAQ.com.
  34. ^ "These Young Founders Give Cannabis Brands The Opportunity To Market Directly To Consumers". Forbes. 2018-09-27. Retrieved 2020-02-28.
  35. ^ Porter, Martin (November 1983). "The Talk of Boca". PC Magazine. p. 162. Retrieved 22 October 2013.
  36. ^ Hill, Ryan (February 4, 2016) [www.triton.news/2016/02/813/ "San Diego is bringing back Silicon Beach"] [The Triton]
  37. ^ LeMay, Renai (July 28, 2008). "Silicon Beach Australia". ZDNet. Retrieved 2013-05-30.
  38. ^ Kohler, Alan (November 21, 2012). "Australia's "Silicon Beach" is no Entrepreneurs Paradise". The Drum. ABC.

Coordinates: 33°58′35″N 118°27′04″W / 33.9764°N 118.4512°W / 33.9764; -118.4512